Following an investigation by the Australian Competition and Consumer Commission (ACCC), Nippon Yusen Kabushiki Kaisha (NYK), a global shipping company based in Japan, has pleaded guilty to criminal cartel conduct in the Federal Court.
“This is the first criminal charge laid against a corporation under the criminal cartel provisions of theCompetition and Consumer Act,” ACCC Chairman Rod Sims said.
The charge was laid by the Commonwealth Director of Public Prosecutions (CDPP) under section 44ZZRG of the Competition and Consumer Act 2010 (Cth) on 14 July 2016.
“This matter relates to alleged cartel conduct in connection with the transportation of vehicles, including cars, trucks, and buses, to Australia between July 2009 and September 2012,” Mr Sims said.
For corporations, the maximum fine for each criminal cartel offence will be the greater of:
- $10 million;
- three times the total benefits that have been obtained and are reasonably attributable to the commission of the offence;
- if the total value of the benefits cannot be determined,10% of the corporation’s annual turnover connected with Australia.
The ACCC’s investigation into other alleged cartel participants is continuing. The matter is next scheduled for a directions hearing in the Federal Court on 12 September 2016.
Source: ACC
